"Rolling over" the debt means
a. to repay old bonds that come due for payment by issuing new bonds.
b. to repay old bonds that come due by printing money.
c. dividing the tax burden of the debt across the fifty states based on their share of the population.
d. dividing the tax burden of the debt across the fifty states based on their share of economic activity.
e. to repay old bonds that come due by giving gold to the bondholders from the national gold depository in Fort Knox..
A
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____________ regulation is based on setting the price of, say, water or electricity, at the average cost of production while allowing a normal profit for the firm.
a. Price cap b. Cost-plus c. Fixed price d. Bundling
Which of the following statements about the idea that people are rational is? correct?
A. The idea assumes that consumers and firms use all available information as they act to achieve their goals.
B. The idea assumes that consumers and firms take into account the costs of their actions but ignore the benefits.
C. The idea assumes that consumers and firms take into account the benefits of their actions but ignore the costs.
D. The idea assumes that consumers and firms always make correct decisions.
Real income for a given year would be less than nominal income in that year if:
A. the consumer price index was less than 100 in that year. B. nominal income in that year was greater than nominal income in the previous year. C. nominal income in that year was less than nominal income in the previous year. D. the consumer price index was greater than 100 in that year.
Which of the following is NOT a component of gross domestic product?
A. net exports B. government purchases C. purchases by consumers of used goods D. purchases by consumers of finished goods